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USD/JPY Discussion

  • #8,881
  • Jun 24, 2008 10:56am Jun 24, 2008 10:56am
Okay, who got caught by the sudden reversal? The US consumer confidence report turned out be worse than expected. Then what happened? Is this an intervention or what? Can someone explain what's happening?
  • #8,882
  • Jun 24, 2008 11:02am Jun 24, 2008 11:02am
Quoting naminori
Okay, who got caught by the sudden reversal? The US consumer confidence report turned out be worse than expected. Then what happened? Is this an intervention or what? Can someone explain what's happening?
dont worry
its just a trap
see the fall for U/J again now...
and long for EU
  • #8,883
  • Jun 24, 2008 11:07am Jun 24, 2008 11:07am
I'm a little surprised with the reversal...

its like the news didnt matter.
  • #8,884
  • Jun 24, 2008 11:07am Jun 24, 2008 11:07am
Looks like a frenzy on financials and houseing stocks. Can't figure it out either, but that's how it goes, now JPY up to 108.01.. hahahah it figures.
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #8,885
  • Jun 24, 2008 11:21am Jun 24, 2008 11:21am
Price bounced off of S1 and is now headed toward R1. Also, from the fib channel I have set up, PA bounced off the 23.6% channel line and is headed back to the 38.2% channel line

_
hourly and daily charts:
Attached Images
  • #8,886
  • Jun 24, 2008 11:21am Jun 24, 2008 11:21am
Quoting akirax
I'm a little surprised with the reversal...

its like the news didnt matter.
That's because the news doesn't matter.
  • #8,887
  • Jun 24, 2008 11:24am Jun 24, 2008 11:24am
Quoting nwsuccess
That's because the news doesn't matter.


Amen to that Nwsuccess. I have been saying that for ions. You will find that most folks don't really pay attention to what is being said in here.
  • #8,888
  • Jun 24, 2008 11:31am Jun 24, 2008 11:31am
Quoting akirax
I'm a little surprised with the reversal...

its like the news didnt matter.
Sometimes the news will move your pair for a little bit and then go back to the original direction. Some news does not stick.
  • #8,889
  • Jun 24, 2008 11:36am Jun 24, 2008 11:36am
I take it on a case by case basis. I've seen superior chart setups for one direction and the news completely reverses the movement for 100-200 pips and I've seen chart setups that say one way and extremely bad news comes out and the currency barely flinches and goes opposite.

Guess it depends on who's reading the news as when the big boys all agree, you get the 200-300 pip swing on a news item..
  • #8,890
  • Jun 24, 2008 11:36am Jun 24, 2008 11:36am
Quoting ferndog
Sometimes the news will move your pair for a little bit and then go back to the original direction. Some news does not stick.
i agree with mr ferndog here, i stop trading the news, news are losers, most of the time it give you a 2 min of "high" and then take it all back.
  • #8,891
  • Jun 24, 2008 11:38am Jun 24, 2008 11:38am
Quoting ferndog
Sometimes the news will move your pair for a little bit and then go back to the original direction. Some news does not stick.
yeah, after the first time I saw it happen I added that to my forex experience..
  • #8,892
  • Jun 24, 2008 11:40am Jun 24, 2008 11:40am
It got up here from a while now...looks tired but doesn't go down ... somobedy is forcing this trend

... seems to be a bubble
  • #8,893
  • Jun 24, 2008 11:41am Jun 24, 2008 11:41am
but either way, JPY is going down
  • #8,894
  • Jun 24, 2008 11:47am Jun 24, 2008 11:47am
Why don't you just open the "Market Monitor" in Bloomberg.com and adjust it with DJIA and S&P 500: you are able now to be aware of the actual situation. That's why dollar is up again. Because Dow and S&P is up!.

If you only look into Bloomberg once an hour you don't need your ??? anymore
  • #8,895
  • Jun 24, 2008 11:49am Jun 24, 2008 11:49am
What do you mean by "either way"?

Quoting shengster
but either way, JPY is going down
  • #8,896
  • Jun 24, 2008 11:54am Jun 24, 2008 11:54am
well....the news did some good effect actualy ...but from my technical point of view am not surprised....
in all frame charts the candles broke the bollingar band in very sharp way...this means one thing....the its going to the opposit direction in a correction move again...and actually this waht happened in my openion...
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.gif Size: 32 KB
pip and run ....
  • #8,897
  • Jun 24, 2008 12:06pm Jun 24, 2008 12:06pm
Alot of resistance at 107.87 and 108.12 so this should go down a little.
  • #8,898
  • Jun 24, 2008 1:48pm Jun 24, 2008 1:48pm
Quoting Mrpipmaster
i hear that got in at the 95 and closed at the 18.....going to be a very fun evening here Dana......looks like that 1 hour, 2hour show up up and lets see if we can take out the para at the daily at 108.50....then some smooth sailing to 109 area.....but if not will get those scalps......love watching this screen...
Looks like the screen was wrong.
How come you guys don't post your plans when things don't go your way?
  • #8,899
  • Jun 24, 2008 2:12pm Jun 24, 2008 2:12pm
Quoting dwildes
Looks like the screen was wrong.
How come you guys don't post your plans when things don't go your way?
For one thing the screen is still right....... Just like any other time frame, you have the retrace...... not a reversal.......
The Dove - Forex Trainer
  • #8,900
  • Jun 24, 2008 2:43pm Jun 24, 2008 2:43pm
Quoting dove_alliance
For one thing the screen is still right....... Just like any other time frame, you have the retrace...... not a reversal.......
I just don't see how after 13-14 hours of being down the 2hr-4hr charts can still show 'up'
They had to at some point change, and then change back
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